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Turkey Sells 161-,273-Day T-Bills Yielding 57.10%, 59.61%

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BusinessISTANBUL (Dow Jones)--The Turkish Treasury said it sold a net 862 trillion lira ($1=TRL1,670,000) of 161-day T-bills to commercial banks at auction Tuesday, at an annual yield of 57.10%.
It also sold TRL632 trillion of 357-day paper at 59.61%.
The yields on both bills were higher than expected and the amounts sold were low, traders said.
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Turkey\'s Inflation Hits Below IMF Target

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BusinessANKARA, Turkey - Turkey\'s consumer inflation rose by 29.7 percent in 2002, according to figures released Friday. It was lower than the 35 percent target set in the country\'s International Monetary Fund-backed economic recovery program.
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Yapi Kredi reschedules Cukurova’s debts

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BusinessTurkey’s Yapi Kredi reschedules $1.9 billion of loans to top shareholder.

İstanbul
Yapi ve Kredi Bankasi AS agreed to reschedule $1.9 billion of loans to its biggest shareholder, as Turkey’s No. 4 non-government bank struggles to stay in business.
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Iran-Turkey trade exchanges increased by $14million

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BusinessAnkara, Dec 31 - The total trade exchanges between Iran and Turkey reached $1.021 billion during the first ten months of the current year, showing over 14 million dollars increase compared to the last year\'s corresponding figure, IRNA reported.
According to a report issued by Turkey\'s Statistics Institute on Tuesday, Iran imported more than 245.01 million dollars from Turkey and exported $776.62 million to the country. During the period, Iran\'s share in exports to and imports from Turkey was 2 percent and 0.9 percent respectively. The total value of goods exported from Turkey to Iran and vice versa during the first ten months of last year amounted to $293.9 million and $713.7 million respectively.
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I.M.F. Delegation Expected To Visit Turkey In The Second Half Of January

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BusinessANKARA - International Monetary Fund (IMF) delegation, led by Turkey Desk Chief Juha Kahkonen, is expected to be in Turkey in the second half of January aiming to complete studies within the scope of fourth review. The IMF delegation led by Kahkonen is expected to work with the officials of Treasury, State Planning Institute, Finance Ministry, Banking Regulatory and Supervision Agency, and Central Bank. An updated letter of intent is expected to be presented to the IMF administration at the end of the visit in January.
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Russia sends first amounts of gas to Turkey via Blue Stream pipeline

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BusinessMOSCOW. Dec 29 (Interfax) - The Turkish company Botash on Monday will receive the first amounts of Russian gas via the Blue Stream pipeline, laid on the bed of the Black Sea, Gazprom spokesperson Natalya Selivanova told Interfax on Sunday.
She said the pipeline will be brought to design capacity after pressure in it has been raised to the required level within 15 days. Earlier reports said that Gazprom plans to export 2 billion cubic meters of gas to Turkey via the Blue Stream pipeline in 2003. In subsequent years, gas supplies will be increased by 2 billion cubic meters, annually, until they are brought to the target level of 16 billion cubic meters. [RU EUROPE EEU EMRG TR NGS TRD] sd
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Turkey\'s trade deficit up 33%

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BusinessANKARA - Turkey\'s trade deficit widened by 33.3% in the first 10 months of the year to 11.424 billion dollars from 8.567 billion dollars in the same period last year, the state statistics institute says. Imports rose by 15.5% to 39.735 billion dollars, while exports increased by 9.6% to 28.311 billion dollars, the institute said.
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French firm gives up on Turkish dam

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Turkey\'s controversial Yusufeli dam project has edged closer to collapse after the withdrawal of a French construction company.
Spie, which was taken over by Britain\'s Amec on 5 December, said it was dropping out of the consortium after a \"review of its strategic direction\".

Amec itself pulled out in March 2002, saying it was unlikely to make a return which would justify the investment and that it preferred to concentrate on \"service-related\" activities.

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First Russian gas supplies to arrive in Turkey Dec 28-29

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BusinessKrasnodar, Dec 23, Itar-Tass/ACSNA/IRNA --The first Russian natural gas supplies will reach Turkey through a trans-Black Sea pipeline on December 28-29, a gas official said. Bogdan Budzulyak, a member of the Gazprom board, said on Monday the construction of all facilities of the first stage of the Blue Stream project has been finished. \"The pipeline itself has been successfully tested : by commercial
gas,\" he said at a meeting of the Gazprom working meeting devoted to the commissioning of the pipeline. The pipeline is 1,240 kilometers long. It consists of three sections that pass through Russia, Turkey and the sea. The section that runs through the Krasnodar Territory is 373
kilometers long. Three hundred sixty-nine kilometers run along the
Black Sea bed at a depth of more than three kilometer. The 31-millimeter pipes were laid by the world\'s largest
pipe-laying machine from Italy. Gazprom invested 21 billion roubles in the first stage of the project.
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Iran, Turkey joint commission sessions begins in Ankara

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BusinessAnkara, Dec 23, IRNA -- The Iran-Turkey joint commission session was held here on Monday with the aim of examining the legal and consular affairs of the nations of the two countries. According to the press office of the Iranian Embassy in Ankara, the two-day session was attended by the representatives of the ministries of foreign affairs, justice, interior as well as representatives of the police, customs department and prisons organizations of Iran and Turkey.
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